Ybrant acquires AdDynamix for US Dollar 10 mn

Hyderabad, Feb 19: Ybrant Technologies Limited (YTL) today announced the acquisition of top-rated Online Ad Network 'AdDynamix' in a cash-promissory notes mix worth US Dollar ten million.

AdDynamix, which offers Online Advertising solutions to many Fortune 500 Clients, was an interactive advertising network delivering ad management, video and digital media services to agencies, entertainment clients and direct marketers. As per the latest Media Metrix rating of Ad Focus properties, AdDynamix came in at 19th position and 11th among the advertising networks.

AdDynamix Network comprises a wide range of speciality-content websites and premium publishers. The network has over 2000 publishers grouped into a dozen content channels.

''Given the network reach and the premier client roster of AdDynamix the acquisition will accelerate Ybrant's opportunity and impact in the digital marketing arena,'' said VTL Chairman Suresh Reddy.

The acquisition falls directly in line with Ybrant's strategy of offering comprehensive end-to-end digital marketing services to direct marketers, brand advertisers and marketing agencies.

YTL, which posted about US Dollar seven million revenue last year, was proposing to make a Public Issue of Securities in the near future and was in the process of filing a Draft Offer Document with Security and Exchange Board of India (SEBI). The IPO was likely to be about US Dollar 30 to 40 million and YTL was also in talks for pre-IPO placement.

It proposed to acquire a US-based Search marketing company over the next six to eight months.

UNI